African Development Bank 2023 Annual Meetings: African Development Bank chief says dearth of climate finance flows “choking” Africa

  • Date: 24-May-2023
  • Source: Zawya
  • Sector:Real Estate
  • Country:Egypt
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African Development Bank 2023 Annual Meetings: African Development Bank chief says dearth of climate finance flows “choking” Africa

A lack of adequate financing for tackling climate change in Africa has become dire and is “choking” the continent, African Development Bank Group (www.AfDB.org) President Dr. Akinwumi Adesina said on Monday.

He was addressing scores of journalists from Africa and around the world at a media lunch organized to kick off its 2023 Annual Meetings in the Egyptian resort city of Sharm El Sheikh.

Adesina called out developed nations for not honoring the $100 billion-a-year climate finance pledge they made to developing countries.

“Africa is being short-changed in climate finance. Africa is choking,” he told the journalists.

“Your role as the media is very important to help carry the news – the news of efforts being made, challenges being faced, and the fierce urgency of now in getting much-needed climate finance to Africa,” the Bank chief said.

The Bank Group’s Annual Meetings will allow the Bank’s Board of Governors, African leaders and development partners to explore practical ways of “mobilizing private sector financing for climate and green growth in Africa,” in line with the theme of this year’s meetings.

Adesina said the theme was chosen to draw attention to the urgent need for climate finance.

“Anywhere you look in Africa today, climate change is causing havoc,” Adesina